FXCM vs Interactive Brokers Review
Is FXCM better than Interactive Brokers? After assessing forex brokers on nearly 100 different variables, FXCM is better than Interactive Brokers. While its range of tradeable markets is narrow, FXCM caters well to high-volume traders, algorithmic traders, and traders that appreciate robust charting tools and quality market research.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Overall
Regulation
Trust Score
Year Founded
Publicly-Traded Company (Listed)
Regulated in Major Hub
Regulated in Emerging Hub
CFTC Registered (USA)
Authorised in the European Union
FCA Authorised (UK)
FINMA Authorised (Switzerland)
ASIC Authorised (Australia)
MAS Authorised (Singapore)
IIROC Authorised (Canada)
SFC Authorised (Hong Kong)
FSA Authorised (Japan)
CySEC Authorised (Cyprus)
FMA Authorised (New Zealand)
Investments
Forex: Spot Trading
Currency Pairs (Total Forex pairs)
CFDs - Total Offered
Cryptocurrency traded as actual
Cryptocurrency traded as CFD
Offering of Investments
Winner
Cost
Average Spread EUR/USD - Standard
All-in Cost EUR/USD - Active
Active Trader or Premium/VIP
Commissions & Fees
Winner
Funding
Minimum Initial Deposit
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)
PayPal (Deposit/Withdraw)
Skrill (Deposit/Withdraw)
UnionPay (Deposit/Withdraw)
Trading Platforms
Proprietary Platform
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Trading Tools
Virtual Trading (Demo)
Alerts - Basic Fields
Watchlists - Total Fields
Charting - Indicators / Studies (Total)
Charting - Drawing Tools (Total)
Charting - Trade From Chart
Charting - Drawings Autosave
Order Type - Trailing Stop
Platform & Tools
Winner
Mobile Trading
Android App
Apple iOS App
Trading - Forex
Trading - CFDs
Alerts - Basic Fields
Watch List
Watch List Syncing
Charting - Indicators / Studies
Charting - Draw Trend Lines
Charting - Trend Lines Moveable
Charting - Multiple Time Frames
Charting - Drawings Autosave
Forex Calendar
Mobile Trading
Winner
Research
Daily Market Commentary
Forex News (Top-Tier Sources)
Weekly Webinars
AutoChartist
Trading Central (Recognia)
Delkos Research
Social Trading / Copy-Trading
Social Sentiment - Currency Pairs
Economic Calendar
Research
Winner
Education
Has Education - Forex
Has Education - CFDs
Client Webinars
Client Webinars (Archived)
Videos - Beginner Trading Videos
Videos - Advanced Trading Videos
Investor Dictionary (Glossary)
Tutorials/Guide (PDF or Interactive)
Education
Winner
Major Forex Pairs
GBPUSD (or USDGBP)
USDJPY (or JPYUSD)
EURUSD (or USDEUR)
USDCHF (or CHFUSD)
USDCAD (or CADUSD)
NZDUSD (or USDNZD)
AUDUSD (or USDAUD)
USDCNH (or CNHUSD)
USDSGD (or SGDUSD)
Overall
Overall
Winner
80
1999
Yes
Yes
Yes
No
Yes
Yes
No
Yes
No
Yes
No
No
No
No
Yes
39
24
No
Yes
1.3
0.8
Yes
$0.00
Yes
Yes
No
Yes
No
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
7
51
31
Yes
Yes
Yes
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
30
Yes
Yes
Yes
Yes
Yes
check_circle
Yes
Yes
Yes
No
Yes
No
Yes
Yes
Yes
check_circle
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
91
1977
Yes
Yes
No
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
No
No
Yes
115
6100
No
Yes
check_circle
N/A
N/A
Yes
check_circle
$0
Yes
No
No
No
No
Yes
Yes
No
No
No
No
No
Yes
Yes
300
121
9
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
68
No
No
Yes
Yes
No
No
Yes
No
No
Yes
No
No
No
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
After spending several months and hundreds of hours researching 28 different forex brokers for trading FX, our team at ForexBrokers.com team collected over 2,200 data points. For this review, we will compare FXCM vs Interactive Brokers.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Interactive Brokers's score is 4.00 stars versus FXCM's 3.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXCM and Interactive Brokers both are regulated in a major hub. FXCM and Interactive Brokers are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers boasts an offering of 115 different currency pairs compared to FXCM's 39 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM offers Meta Trader while Interactive Brokers does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXCM offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 70.
FXCM Review
Interactive Brokers Review
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Interactive Brokers's score is 4.00 stars versus FXCM's 3.50 stars.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXCM and Interactive Brokers both are regulated in a major hub. FXCM and Interactive Brokers are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Interactive Brokers boasts an offering of 115 different currency pairs compared to FXCM's 39 available pairs.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. FXCM offers Meta Trader while Interactive Brokers does not. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. FXCM offers its clients access to 31 charting tools while Interactive Brokers has 9 charting tools, a difference of 22. Interactive Brokers offers its clients access to 121 different indicators (for example, volume) while FXCM has 51 available indicators, a difference of 70.
FXCM Review
Interactive Brokers Review
Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.
